South Korean prime minister calls for disclosure of crypto holdings by high-ranking officials

South Korean Prime Minister Han Deok-soo is calling for the disclosure and registration of cryptocurrency assets by high-ranking public officials, a local news outlet has reported

In a press conference held at the Sejong Government Complex on May 17, the prime minister reportedly emphasized the importance of including crypto assets in the property registration of high-ranking public officials.

According to a Google-translated version of the report, Prime Minister Han told reporters that the issue of whether high-ranking officials should include digital currency in property registration “can be fully discussed and decided in the National Assembly.” According to the report, the prime minister shared that “Personally, I think it’s right to put it in (in the property registration).”

To support his stance, the prime minister drew a parallel with the registration of other valuable assets. He mentioned that registering a certain threshold of precious metals is currently mandatory, and similar requirements could be implemented for cryptocurrency holdings.

At present, there are no requirements to disclose cryptocurrency holdings, and each official decides independently whether to reveal such assets.

Related: South Korean lawmaker leaves political party amid crypto investment controversy

The recent revelation of National Assembly member Kim Nam-kuk’s significant cryptocurrency investments has sparked calls for thorough investigations into the cryptocurrency holdings of policymakers and their inclusion in property registrations.

Kim is currently being investigated by the Korea Financial Intelligence Unit for reportedly liquidating around $4.5 million worth of cryptocurrency before the implementation of the Financial Action Task Force’s “Travel Rule.” 

Magazine: Terra collapsed because it used hubris for collateral – Knifefight

All Dutch and English crypto news!

MUFG to facilitate Japanese bank-backed stablecoins via Progmat Coin platform

Megabank Mitsubishi UFJ Financial Group (MUFG) has announced that its stablecoin issuance platform "Progmat Coin" will soon be used by Japanese banks to launch Yen-pegged...

Net Bitcoin ATMs record an increase after 4 months of global downtrend

Breaking the year-long trend of declining Bitcoin (BTC) and crypto ATMs across the globe, May recorded a steep increase in net installations with nearly 1,400...

Microsoft pens AI cloud computing deal with former Ethereum miner CoreWeave: CNBC

Microsoft has reportedly signed a deal with former Ethereum miner CoreWeave to use its cloud computing infrastructure to support its Artificial Intelligence-powered services. According to a...

Crypto Biz: Six months on from FTX, Tether mines BTC, and Nvidia’s AI superchips

Just over six months after FTX's dramatic collapse, the crypto industry can finally begin analyzing the effects of the debacle. The quick ripple effect to...

Beste exchanges

Koop je crypto bij Bitvavo